Knight Capital Markets & Fortress Fund (Warning)

[knightcapitalsupport]

IMPORTANT INFORMATION FROM KNIGHT CAPITAL / KMS.ASIA BROKERS LTD.:

We have been in communications recently with FPA to bring our attention to the clients on this thread -- Knight Capital is actively assisting clients of the "Fortress" Funds managed [MAM] account program to assist in account detaches/ withdrawals etc. We are fully aware of the major downturn in trading this fund took in late Dec 2015 after 3 years of successful trading. If you have a current account in DD and need assistance - please contact us immediately.

International Support info: https://www.knightcapitalmarkets.com/contact-us.php

Kindly include your account number as well in email header communication for fast communications.

Additionally, it will be noted as we have noted privately that we are NOT associated with Fortress Fund directly besides their being one of our Fund clients, just like 300 MAM funds currently at our brokerage.

We are here with full intention to assist clients as we do 24x5 for the last 8 years.


Hiroko Watanabe
Admin
www.KMS.asia

 

[Chu4228]

Is this for real? I am client of Fortress FX Fund and have been trying to withdraw for many months without success.

 

[larz]

There are many red flags about this fund coming from losers. In trading, only trade money that you can afford to lose. If you can't do that, don't trade your money. In investing, only entrust your hard earned money in a company that you are sure that that company will still be there after 20 years, when the time comes to withdraw your money. As for me I have no problem with this fund, I am earning without any sweat and I am happy with them.

 

[Johan Olwage]

Hi There my FPA fellows, I have now mailed mr, Hiriko Watanabe (of Knight Capital) with my problem. Let us see if he will indeed provide the assistance he promises above. I guess this will be the "acid test" as to their reliability.

 

[Johan Olwage]

IMPORTANT INFORMATION FROM KNIGHT CAPITAL / KMS.ASIA BROKERS LTD.:

We have been in communications recently with FPA to bring our attention to the clients on this thread -- Knight Capital is actively assisting clients of the "Fortress" Funds managed [MAM] account program to assist in account detaches/ withdrawals etc. We are fully aware of the major downturn in trading this fund took in late Dec 2015 after 3 years of successful trading. If you have a current account in DD and need assistance - please contact us immediately.

International Support info: https://www.knightcapitalmarkets.com/contact-us.php

Kindly include your account number as well in email header communication for fast communications.

Additionally, it will be noted as we have noted privately that we are NOT associated with Fortress Fund directly besides their being one of our Fund clients, just like 300 MAM funds currently at our brokerage.

We are here with full intention to assist clients as we do 24x5 for the last 8 years.


Hiroko Watanabe
Admin
www.KMS.asia

Dear sir, I have sent a mail under separate cover to you. Awaiting your response.

 

[Chu4228]

I emailed KCM and this is their response. What a joke. I did not signed any MAM Agreement when open my account. There are still two open trades in my account which were open back in Nov 2015. No other trades since then. FF has abandoned trading in my account since I requested to have it close in Nov 2015.


Date: Thu, 4 Feb 2016 03:57:26 -0500
Subject: Re: Withdrawal
From: clients@knightcapitalmarkets.com
To: duongc@hotmail.com

Hi Chu,

Thank you for contacting us in response to the recent post on Forex Peace Army, which was made to ensure all of your concerns are comprehensively addressed. Please allow me to express our genuine appreciation toward any unnecessary frustration you may be experiencing as a result of your important concern.
However, and as you may recall from our previous correspondence, your account is unable to be detached from the MAM while open trades exist pursuant to Clause 10 of your MAM Agreement. This policy, which is not unique to our brokerage, is necessary as a result of technical limitations in the MAM plug-in we utilize. We utilize a very popular MAM plug-in employed by many brokers. This policy is implemented in order to ensure client detaches do not affect the remaining existing clients on the MAM. We apologize for any confusion or inconvenience this necessary policy may have caused.
We maintain revocation requests on file until that time in which the account is flat (no open trades exist). At which point it will be automatically executed. Although we appreciate your dissatisfaction with your third-party manager's trading, we are nonetheless unable to intervene in their management of your account. You should direct your trade-related inquiries toward them, specifically regarding their management of the open positions on your account.
Sincerely,
Oliver

 

[Pharaoh]

Wow. So much for promises to get this fixed. Write back and quote the part about helping clients get detached from MAMs.

A one star review (new if you haven't left one, followup if you have) would be in order.

If that doesn't get results in a few days, I've got some other suggestions.

 

[booki]

I did not invest with Fortress Fund, but some of my friends did. Ethan of course overtraded their accounts and they lost their money.

Knight Capital deposited to my friends account the 10% negative balance protection.

One of my friend withdrew the remaining 10% and got it back to his bank account. Another one opened a second account and asked Knight Capital to move the money to the second account, which they did. After a few days he withdrew the funds and also got them save back to his bank account. Other 2 friends left the remaining funds on the account and Ethan emptied that as well.

So far I can only say that Ethan's trading strategy, or lack of it, is quite horrible. However, regarding the Knight Capital and how they were handling my friends correspondence and withdrawals, they have been OK.

Yesterday I got in my mail advertising for Lions FX Fund https://www.lionfxfund.com/ which looks the same as Fortress Fund, just the address is Sursee-CH instead of Butchwil-CH.

I would suggest to spread the word and make people aware of the new fund and what is going on.

 

[Pawel]

THanks for sharing, yeah they are doing another round of this scam, now under lionfxfund.com

 

[odysseus11]

that link as of now redirects to an affiliate page for the product vortex Trader Pro.
the affiliate ID is fxmanaged
the affiliate program processor is clickbetter
ClickBetter could identify the specific identity of the underlying affiliate of they wished to help uncover and stop these scammers, unless the ClickBetter principals are actually involved. I do not believe they are, but they certainly are well aware of the individuals who own the affiliate account, be sure of that. As I have said, its Ryan O Rourke and company.